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Future Provident Fund: Minimum pension per month raised to Rs. 1000/-!
Posted on: 28/Aug/2014 4:59:24 PM
All employees under the future Provident Fund Scheme will now get a minimum monthly pension of Rs. 1000/- on retirement.
All employees working under private concerns are included in the Future Provident Fund (EPF). Monthly deductions of a particular amount are made on this account.
Currently, the monthly income limit is fixed at Rs. 6500/- for the EPF scheme.
Finance Minister, Mr. Jaitely had announced that this limit is now being raised to Rs. 15000/- per month. This has been officially announced by EPFO.
The minimum monthly pension has now been raised to Rs. 1000/-.
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